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Philippines: World Bank clears $141M loan to finance Cebu bus rapid transit

2014-09-27 03:11:00| Climate Ark Climate Change & Global Warming Newsfeed

InterAksyon: The World Bank has approved a $141 million loan to fund the construction of the Philippines' first bus rapid transit (BRT). The financial package -- $116 million of which would come from the World Bank and another $25 million from the Clean Technology Fund (CTF) -- will help finance the construction of a 23-kilometer BRT system along a major transport corridor in Cebu City. The Philippine government will provide counterpart financing amounting to $87.5 million. The corridor runs from Bulacao...

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